Austin Financial Services Provides $1.3MM Revolving A/R Facility to Hosiery & Sock Manufacturer

Austin Financial Services closed a $1.3 million revolving accounts receivable and inventory facility for a more than 25-year-old, privately-owned hosiery and sock manufacturer. The company was looking to grow by continuing to expand its customer base and sought a more flexible lender to replace its restrictive lending facility. The company used proceeds from Austin Financial Services’ revolver to pay off its existing factoring line and to provide new funds to support business growth.   

“Small businesses have faced an economic and existential crisis during the COVID-19 pandemic.” Jason Anish, president and CEO of Austin Financial Services, said. “AFS is proud to continue providing much needed capital support to those essential businesses, who are the backbone of the economy.”